Life Insurance in Oregon

We can help you choose the right life insurance plan in Oregon.

Life insurance acts as a contract between an insured person (the policy holder) and an insurance company, where the insurance company promises to pay a selected beneficiary a sum of money (listed as “benefits) upon the policy holder’s death. Depending on the contract selected, other events such as terminal illness or critical illness may also receive a payment to the policy holder or their beneficiary. The policy holder will pay a premium, either in regular installments or a lump sum. Other expenses such as funeral expenses are often included in the benefits, but be sure to review your specifics with a licensed agent.

People buy life insurance for many reasons. Often it is purchased by the policy holder to offer peace of mind to the beneficiary in the event of their untimely death. As such, it would alleviate any financial hardships they may endure as a result of their death.

Something else to discuss with your licensed insurance agent, are the possibilities of a life insurance policy to act as payouts during retirement. Be sure to have your agent explain the benefits and drawbacks of such a program.

Life insurance policies are legal contracts and carry terms that describe the limitations of insured events. Exclusions will apply in many cases limiting the liability of the insurer such as suicide, fraud, war, riot and civil unrest. Consider all of these items carefully prior to purchasing a policy.

There are two major categories for life insurance.

• Protection policies – A policy designed to provide an insurance benefit for a covered event, typically a lump sum payment to the beneficiary.
• Investment policies – The main goal here is to facilitate growth of capital. These are each outlined below.

It is important to understand the three types of life insurance available in Eugene, Oregon.

1. Term Life: Provides protection for a specific time frame, for instance, 20 years. It is generally less expensive than a Whole Life policy. Frequently term life can be changed to a permanent policy.
2.  Whole Life: This is a form of life insurance that remains in force your entire lifetime (as long as you pay our premiums). It is important to note that whole life policies can be an investment as they build value over time.
3. Universal Life:  Universal life has flexible premiums but can also build value like the whole life policy which earns through an interest rate that changes occasionally.

To find out more and what policy may be best for you, contact a licensed agent today at LeDoux Insurance at (866) 683-5112

Frequently Asked Questions about Life Insurance

How are life insurance premiums calculated?

The two primary factors for policy calculations are age and gender. The next would be how much of a death benefit you are requesting.

 What does life insurance do?

This policy is a type of insurance that pays out to the beneficiary upon the named insured dies. There are different types of coverages that do different things, so talk to an agent about what is best for your situation.

 What are the four types of life insurance and how do I decide which one is right for me?

The four main types of life insurance are whole (permanent) life, term life, universal life and variable life. To decide what option is best for your situation, speak to a licensed agent and discuss your reasons for wanting this coverage and they can explain all the differences between the plans so you can select the plan that is right for you.